Jessica Campbell – New Homes Mortgage Manager – Connells Southern

How long have you worked in the New Build Mortgage sector? I have worked in the New Build Mortgage sector for around two years now.

What is your day-to-day role in New Build Mortgages? My role in New Build Mortgages is mostly qualifying buyers on our developments to ensure they meet the lenders criteria for that plot and whether they fit with the scheme if they are applying for one. These schemes include Shared Ownership and Discount to Open Market units. I also liaise with Sales Negotiators on any potential new buyers, keeping track of current sales and exchanges to meet developer exchange deadlines, and ensuring clients mortgage offers are valid past the target build completion date.

Tell us something which some people may not know about New Build Mortgages? New Build Mortgage criteria can be very different to the second hand market which clients are sometimes unaware of. For example, the loan to value restrictions on new build houses and apartments, exposure limits on sites, and if the site offers an acceptable warranty provider for the lender.

Who are some clients that you work with in New Build Mortgages? I work with a range of clients including Local Authorities and Registered Providers on our Shared Ownership and discounted plots, and various different developers from small to large.?

What is happening in the new build mortgage market at the moment? With Help to Buy applications closing next week (October 31st), there are various new schemes becoming available to allow buyers to still be able to proceed with a new build purchase using a 5% deposit. These are all still in their early days so we are in discussion with developers on applying for these schemes on their upcoming sites. Developers are also under pressure to ensure that the deadlines are met so are making every effort to achieve this.